The Bozeman weekly chronicle. (Bozeman, Mont.) 1883-1889, 1887-12-07
NO. IS.

To provide funds for the completion Of
the City building, 10 be known as the
City Hall of the City of Bozeman, Mon
tana.
Be it ordained by the City Council of
the CITY of Bozeman.
Sec. l. That for the purpose of pro.
curing money. for the completion of, the
city building TO- in curse of construc-
ton, authorized b. ordinance No. So, of
of said City, a loan shall be made by
the issuance of cupon bonds Of the said
City Of Bozeman to the amount oftwenty.
Of the usual form, and twenty thereof "a g
be in the denomination of five-hundred
dollars each and fifteen thereof to be in
the denomination of one thousand dol
lars each; and they shall bear the sigma
lures of the Mayor n the City Clerk,
and to be sealed with the corporate seal
Of the City and said coupons shall bear
the like signatures; said bonds shall be
redeemable In five years, and become
due and payable in twenty years from
their date; and said bonds and cupons
shall be payable at the office of the City
Treasurer in Bozeman, or in the City of
New York, as may BIZ desired by the
party or parties who shall negotiate the
same; said bonds shall bear interest at
the rate of six (6) per centum per anl:um
payable s~emi-annually, said interest to
be paid and said bonds to be redeemed
bv the levy OF a special tax for that pur-
pose as provided by the act Of the Leyis-
lative Assemblyof the Territory of Mon
tana approved Sept. IA. 1887, entitled
can Act to Enable Certain Cities and
Towns to incur Indebtedness" And
Tho faith nf film fIty nf D,,ar..
by solemnly pledged for the payment of
h interests on said bonds, and the
principal thereof, when they shall re.
spectively become due. For The purpose
of the payment of the interests on said
bonds and the principal thereof, when il
shall become due or payable, there shall
be annually leyied, at the time the other
annual are levied a tax not exceed.
ing one and one-fourth mills on each
dollar Of assessed valuation of taxable
property within the City, which tax
when collected shall be kept in a seperate
fund to be denominated the "Sipkinp
Fund.-" which shall be reserved and an
piled to the payment of the accrued in.
terest and the redemption of said bonds.
Tho first payment of interest on sai
bonds shall be made on the first day OF
January 1889, and semi annually there
after, on each first day of January and
first day of July,
Sec. 2. The foregoing section shall be
submitted to the qualified voters of the
City on the twenty-seventh day of Dec
ember 1887, after the due notice of said
submission as required by section 3 of
said act and as provided by ordinance
No. . entitled Concerning City Elec-
ton" as it may apply to this matter.
SEC. 3. Il the first section of this ord
nance shall be approved, as by said act
provided, at said election. by the qualiG-
ed voters so as to be in force, the CITY
treasurer, when required by the City
Council snail issue such bonds in man.
ner and form as in said section provided
and the cupons attached thereto shall be
signed by the Mayor and City Clerk and
shall designate the amount, number and
date of the bond, and the installment of
the interest en- the bond they are intend
ed to pay, and the act and ordinance un-
der which they are issued.
Sec. 4. The city council shall also
then give notice by advertisement, drs-
cribing said bonds, in the city news
papers for four sccessive weeks. and in
one New York City weekly newspaper
for the same period; that the city treas
will, upon a day to be decided upon
by the council, dispose of said bonds at
public auction, at the city hall in Boze-
man, to the highest bidder, at not less
than their face value. And he is hereby |
authorized to sell such bonds, after APP
proval by the city council of a bid or
bids therefor, at their face value or up
wards. and shall keep a register of the
same.
Sec. 5. The city treasurer, upon pay
ment at any time of the proper coupons,
shall report and present the ia me to the
city council in his next ensuing finan-
report for proper cancellation.
SEC. q. Whenever at any time after
i've year from the issue of said bonds,
The sum in the sinking fund shall equal
Dr. exceed me Thousand dollars over and
aboye the accrued interest on the bonds
outstanding, and from time to time
hereafter when it may occur, the city
treasurer shall cause a notice to be pub
lshed IN the city newspapers that he
will, in thirty days therefrom, redeem
aid amount of bonds which may then
,e payable, specifying the numberthere-
", giving preference in numerical order:
md if, at the expiration of said thirty
lays, the holder or holders shall fail to
PRESENT the am for payment at the
designated place, the interest thereon
hall cease, but they shall be paid at any
ime when 81 presented said notice
hall also be mailed by the city treas.
lrer, TO the designated place in New !